Company updateBusinessLine
Tata Steel targets ₹20,000 crore capex this year
Positive+38
GreyOak summary
Tata Steel CEO TV Narendran stated the company targets ₹20,000 crore in capital expenditure for the current financial year, with ₹15,000 crore allocated to India. Despite Q2 EBITDA pressure from lower steel prices and Gulf conflict impacts, the company expects realizations to improve in Q3. The firm also aims to achieve ₹7,000 crore in annual cost savings.
What it affects
- Tata SteelTATASTEELPositive +38
Targets ₹20,000 crore capex this fiscal year.Rolling sentiment Positive +43
Source
Read the original at BusinessLineMore Tata Steel news
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